ABSTRACT
The numerus clausus principle, which limits both the number and content of property rights, has been explained by law and economics scholars as a device for reducing information costs. From this perspective, a more complex system of property rights can only be achieved at the price of less legal certainty or, in economic terms, higher information costs. However, advances of information technology could change this equation and make it possible to recalibrate the optimal standardization of property rights leading to a more granular property law. Starting from this premise, this article explores whether the emerging scholarship on ‘personalized law’ could provide new perspectives on the future of the numerus clausus. In particular, it is examined to what extent standardization of information about idiosyncratic property rights could be an alternative to standardization of property rights in the Internet of Things.
Busch, Christoph, Granular Property Law: Recalibrating Optimal Standardization of Property Rights in the Internet of Things (March 25, 2022). European Legal Studies Institute Osnabrück Research Paper Series No 22-01.
First posted 2022-03-29 12:30:42
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